A brief comment on the PP market of China Plastics

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On August 14, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 4.54 points to 1024 To ensure the consistency of product quality between batches, the China Plastics warehouse receipt index fell 10.93 points to 999.48 points

I. upstream review

on Thursday (August 13), the settlement price of West Texas light oil futures in September on the New York Mercantile Exchange was $70.52 a barrel, up $0.36 from the previous trading day, with a trading range of 70 21 dollars; The settlement price of September Brent crude oil futures on the London Intercontinental Exchange was $73.48 a barrel, up $0.59 from the previous trading day, with a trading range of 72 72 dollars

Far East propylene closed at USD/ton FOB South Korea on Thursday, up 2.5 USD/ton. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 46 125 cents/pound, the trend is stable

II. Fundamental news

① spot market:

oil prices rose, petrochemicals were strong, and the PP market continued to consolidate at a high level. There are not many resources in the venue, the merchants' purchase intention for low-cost sources is acceptable, and some high-end materials are not wanted. Traders were confused about the future market, and the decline of plastic futures and warehouse receipts also increased their concerns. The latest mainstream quotation of domestic wire drawing/injection plastic in Yuyao plastic city is yuan/ton, and the mainstream quotation of domestic copolymer is yuan/ton

② dynamics of China Plastics spot Mall:

the listing of PP in China Plastics spot mall was relatively stable at noon today. Generally speaking, the quotation was mixed, ranging from yuan/ton

III. technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume












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today's opening, PP warehouse receipts opened higher, and the early market peaked and fell below yesterday's closing price. Since then, the warehouse receipts continued to decline, and the decline rate was slow and urgent, and the index gradually fell deeply. At 11:30 a.m., the trading ended, and the PP warehouse receipt index fell 9.98 points to 1157.25 points. In the afternoon, the market continued to decline and ended sharply lower. China is a country with relatively tight resources and energy. The final PP warehouse receipt closed at 1154.42 points, down 12.81 points or 1.10% from the previous trading day. The K-line of the index closed at a long negative line, intersected with the 5-day and 10-day moving average within the entity, the MACD index crossed the double line and fell, the green column appeared, the KDJ index accelerated the decline, the opening of the BOL line tightened slightly, and the price broken line intersected with the medium rail. Today's trading volume is average, with 1511 batches of trading volume and 3908 batches of ordering volume

the main variety pp0910 opened higher and fell lower, the market fell slightly, and the oscillation extended. After 10:30, the warehouse receipts fell sharply and went deep into the trough. The market continued to consolidate in the afternoon and ended sharply lower in the late afternoon. At the end of the session, pp0910 closed at 10331 yuan/ton, down 167 yuan/ton, and the daily K line closed at the long negative line

IV. future forecast

in terms of spot goods, the oil price rose moderately during the day, and the expectation is unknown. The spot goods are still in a dilemma as a whole. In terms of warehouse receipts, PP warehouse receipts and Liansu both fell to varying degrees today, and traders' mentality was poor. At present, the warehouse receipt market has been at a relatively high level, and the early hype makes who turns early to rise on a shaky basis. In the later stage, the possibility of withdrawal in the PP warehouse receipt market increased significantly

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